British Energy
Centrica is exploring whether it could do a deal with British Energy on its own. The penny seems to have dropped at the Treasury that it will get more for the British Energy stake if there is a proper bidding contest. Which means that it may well entertain offers consisting of shares and cash. And that would let Centrica into the game as a bidder in its own right.
BBC 12th May 2008 more >>
BBC 12th May 2008 more >>
Centrica was savaged by the tabloids in February for the six-fold increase in operating profits at British Gas in 2007. The good news for the board is that they are not going to have to explain such riches next year. The bad news is that, squeezed by rising wholesale prices for gas and electricity, Centrica is being forced to make both customers and investors unhappy.
FT 13th May 2008 more >>
The great unknown for Centrica is how the sale of British Energy will play out. The company doesn’t have enough gas or power plants of its own to supply all its customers, meaning it desperately needs to boost its own capacity.
Telegraph 13th May 2008 more >>
EDF Energy has been acquiring farmland around two nuclear sites, Wylfa on the island of Anglesey in north Wales, and Hinkley Point in southern England, in order to be able to develop its own atomic power stations if its attempts to buy a stake in British Energy fail.
Energy Business Review 12th May 2008 more >>
TWO European energy firms are thought to be putting the final touches to bids for Britain’s upfor- sale nuclear power provider British Energy. Spain’s Iberdrola, which owns Scottish Power, and French nuclear firm EDF are expected to provide detailed offers to investment bank Rothschild, broker Charles Stanley has said.
Northern Echo 12th May 2008 more >>
India
India’s main Communist party has vowed to continue to block approval of a landmark civil nuclear deal, saying it will not be ratified in time during the administration of US President George W. Bush and intensifying concern the pact could die. Sitaram Yechury, a member of the poliburo of the Communist party of India (Marxist), said negotiations scheduled for this month with its allies in India’s Congress-led government were unlikely to lead to a breakthrough.
FT 13th May 2008 more >>
